An AMA was held between File cash Global & Universal Crypto at Telegram group January 13th 2022, Here is the link to join us

https://t.me/BlockchainFederationGroup

Michel Henery:
Good day everyone

we are happy to have FileCash project to our live AMA session today. We have @MarcoPobong with us to talk more about this amazing project

Marco Pobong:
Hello everyone 😊

Michel Henery:
@MarcoPobong welcome here in Blockchain Federation AMA community

Marco Pobong:
Thank you :)

Michel Henery:
How are you doing?

Marco Pobong:
I'm good and excited for today's AMA.

Michel Henery:
Good to know about your exciteness

Marco Pobong:
^_^

Michel Henery:
Let's Rock and Roll

Marco Pobong:
Yeah

Michel Henery:
Here are instructions

Please listen rules carefully!

There will be 3 segments of AMA!

👉Introductory questions (5)

👉Live Community questions (5)

👉 Twitter Questions segment (5)

Please listen AMA rules again

1: Must join Telegram group of all AMA projects.
2: Follow them on Twitter.
3: Don’t tag any guest of AMA.
4: Don’t repeat same questions
5: #DYOR before investing on any project

Rules for Community

My first Question for you

Marco Pobong:
Yeah

Michel Henery:
1) Please introduce your project Filecash and also share its Values & Consensus?

Marco Pobong:
Alright.

Filecash is the first pre-fork project of Filecoin. It is an incentivization layer of the IPFS protocol, setting the goal of building the Web 3.0 basic storage engine, to make it the world’s leading distributed cloud storage platform.

The core logic behind Filecash is to reduce the threshold of ecosystem participation through a series of technical optimization schemes and economic model improvements, to make the global idle storage resources participate in Filecash consensus, to reduce computing resource consumption, and to reduce sealing and storage costs, and form a close relationship between developers, miners, and communities.

The meaning of “pre-fork”: Filecash was forking from Filecoin before Filecoin’s mainnet launched, so we call this fork a “pre-fork”.

On the other hand, the fork itself is also in line with the essence of the blockchain spirit. The open-source protocol is not controlled by anyone. If there is any disagreement on the original chain, each divergence point can be used as the starting point of various forks, and each fork will be a point of divergence with new beginnings and the development of different paths. In fact, the diversified development of different technical paths, different governance institutions, and different economic models on the same track has been completed.

done

Michel Henery:
Hey Thank you for Intro of the project and sharing Values+ Consensus

Let's move towards Next Question

2) What are your main features that distinguish you from other projects and what competitive advantages do you have?

Marco Pobong:
If we say Filecoin is a more corporate-like operated cloud storage service, Filecash is a decentralized, algorithm managed blockchain project.

Filecash doesn’t have human interfered KYC, and completely proceeds with verifications via algorithm. Filecash also doesn’t have officially defined “verified data”. As long as the customers have paid money to try to save data on the Filecash network, the data is valid data.

Currently, Filecash’s core changes to Filecoin technology and governance are as follows:

1. The Sha256 algorithm of the Precommit 1 part is changed to sha512.

This change made both AMD chip miner machines and Intel chip miner machines can mine Filecash, while Filecoin only supports AMD chip miner machines.

2. Change the sealing layers from 11 layers to 5~8 layers.

To mine Filecoin, the 11 layers sealing procedure takes a lot of miner machine’s resources and network bandwidth resources, so Filecoin’s TPS is very low and this also caused the recent super-high Gas fee crisis. Filecash reduced the sealing layers to less than 8 layers to enhance the TPS and release more resources for the storage task.

3. 32G sector is changed to 16G sector.

Filecoin’s sector size is 32G, which means to seal a sector in the Filecoin project, the machine needs higher memory storage and system resources, while Filecash’s sector size is only 16G, so Filecash miners need less system resources to finish one sector’s sealing. When the client only needs to store a small size file, Filecash’s cost will be lower than Filecoin’s.

4. Filecash removed human interfered KYC and the “verified data”.

Filecoin’s KYC and its “verified data” caused many arguments and disagreements in the Community, and Filecash removed both of them, to make sure that in the Filecash network, all the data paid by clients to store in the network is valid data.

done

Michel Henery:
Features are very unique and interesting! Amazing stuff

Let's see next question

3) How did you get the community involved in developing the project? and how do you build a strong community to grow globally?

Marco Pobong:
It is a very important question

As I've described above, Filecash project was initiated by IPFS community members, because some of them were not agreed with Filecoin's certain rules.

So Filecash itself is: initiated by the community, evolving by the community on and on.

Our desired markets are: South Korea, Japan, USA, Canada, UK, Germany, and other European countries, Russia.

Filecash has been developing the global community since its first day. From Japan, to South Korea, and will be expanding soon to Singapore, and many other countries.

In the early this month, we’ve had the first-ever English & Arabic dual language AMA with an Arabic crypto community, targeting the middle east region’s crypto investors.

We hope to have more and more local miners to start to mine Filecash, and the local traders to trade FIC tokens from the countries mentioned above, so we would love to collaborate with the local partners for the marketing promotions.

done

Michel Henery:
Cool Way to express everything and points are very cleared to make us understand

Let's see 2nd Last question

4) What and all partnerships or marketing initiatives are you working now to help build awareness for your platform?

Marco Pobong:
To handle the marketing for Filecash, it includes two parts: unknown risk management, and the project marketing and promotion to the desired markets.

The risk management part:

On September 24th, 2021, Chinese government announced the strongest and total ban on Crypto to completely ban Chinese citizens to handle Crypto currencies. Filecash project has officially ended the marketing and promotions in China since September 24th 2021 as well. In this situation, many Chinese crypto investors are busy to sell their crypto currencies and empty their wallet on the exchange apps, so FIC price has been affected by Chinese market’s this trend and now we are seeing the price experiences turbulence.

The marketing expansion part:

There will be non-China Filecash nodes appearing more and more in the short future, so more miners from different countries will join and mine Filecash, this will also attract more countries’ crypto investors to come and buy FIC tokens.

We expect to see FIC token price’s strong bounce-back when Filecash global community expands to more countries. In one word, Filecash is getting out of China-shock, and looking forward to a strong bounce-back.

Recently, we noticed that there is some mining company that sells FIC cloud mining product in South Korea, and also introduce Filecash project to more South Koreans. We expect to see Filecash’s first-ever new mining node from South Korea will appear on our worldwide node map soon. In the other hand, we are on the way to seek the opportunity to list FIC token to South Korea’s top-tier exchanges.

done

Michel Henery:
Well amazing stuff mate

Here is the LAST Question

5) Also share your Economic Model and ecosystem of Filecash!

Marco Pobong:
Yeah.

Filecash's FIC token distribution:

the total amount of FIC distribution is 2 billion: Miners mining part 55% (Linearly halved in 6 years), Layer2 incentive related part 30%, investors 10%, foundation 2.5% (6 years of linear release), development team 2.5%.

To initiate the Filecash mining, the miner should deposit certain amount of FIC token as collateral, during the mining period, if the miner fails to upload messages in time, or if the miner lost the customer’s data by mistake, the system will deduct the certain FIC token from the collateral FIC as punishment. When the miner does everything greatly, the miner will get FIC token as reward for the mining.

Filecash's token is FIC, and it is listed on these exchanges already: Hotbit.io, Gate.io, MEXC and some other exchange apps. We will see FIC in more exchanges in the future. You can buy and sell FIC in those exchanges, and also keep your FIC in these exchanges’ wallets.

done

Twitter Segment:-

Michel Henery:
Now let's bring Twitter questions

1) In the previous AMA your milestones in 2022 are purely on engaging new nodes. Is there any development or any other objectives you intend to achieve in the whole 2022? Development?

Marco Pobong:
A very sharp question from one of our fans.

Well, we’ve been observing Filecash’s original chain – Filecoin’s development in the whole 2021. Filecoin has achieved a big amount of total network power already, but their arrangement to expand and boost the ecosystem with various applications and related development, are moving very slowly. While Filecoin had declared the collaboration with NFT projects to store the NFT data on Filecoin network we hardly see Filecoin’s decentralized storage network is used for any massive data-transaction related applications yet.

That’s why when we plan Filecash’s Roadmap 2022, we make the realistic plan – expand the global nodes, and the total network power firstly. The world is still not familiar and ready to massively use IPFS protocol’s decentralized storage network system yet.

done

Michel Henery:
2) Where can I buy your tokens right now what is your current contract and how can I buy them??" Will you have any other DeFI feature like staking, yield farm or NFT in the future?

Marco Pobong:
Our top recommendation to trade, keep FIC token asset is: Hotbit.io exchange app. This exchange app is quite reliable and stable.

We plan to launch the dual-mining staking smart contract, once our total network power and global nodes expansion reach to a milestone level.

About the NFT, the more realistic future collaboration with NFT project would be: the NFT’s key data would be stored on Filecash’s decentralized storage network.

done

Michel Henery:
3) Is the ambassador program still available now?? if still, where exactly can we register and what are the benefits?

Marco Pobong:
We do have our ambassador program. If you’re interested, you can submit via our (1) Email: filecash@file.cash; (2) Telegram: t.me/filecashglobal; (3) Twitter: twitter.com/filecashglobal.

We would pay in FIC tokens for your dedication to our community, and you can trade & keep your FIC asset on Hotbit.io exchange app.

done

Michel Henery:
4) Binance smart Chain blockchain is having high transaction speed and cheap gas fees... Are you planning to launch your mainet or switch to other blockchains in the future?

Marco Pobong:
We are deeply interested in BSC, and will primely consider to launch our DeFi smart contract on BSC.

In the other hand, Filecash itself is an independent public chain, and it will continue to keep this status on and on.

done

Michel Henery:
Here is the last question

5) Sometimes it happens that plans do not work according to what we think. So, is there any backup ready if your roadmap does not go in right direction?

Marco Pobong:
This actually happened to our project.

As I’ve described in the earlier question, Filecash had confronted an unexpected risk/obstacle from China: since September 24th 2021, China had totally banned crypto related everything, this caused our project experienced the huge turbulence of the FIC token price, and the project had to terminate its all marketing efforts in China since September 24th 2021.

However, this unexpected risk didn’t turn down Filecash, while Filecash started to look forward to expand its global nodes and total network power by the marketing efforts in the other countries, and it started to show the effect little by little.

So, when unexpected risks happened, we optimized our strategy to deal with the risks, then found the way to continue to move forward to our fixed goal.

done

Michel Henery:
Well thanks for your time

Marco Pobong:
It's my honor to be with you all today.

Michel Henery:
Best wishes for your project from Blockchain Federation AMA community

Marco Pobong:
Thank you very much! 😉

Michel Henery:
Always welcome here and we are standing with your project

Wish you all the Best and Good bye 👋

Must join this group Community!
👇👇👇👇👇👇

https://t.me/FilecashGlobal

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